Several electric vehicle (EV) stocks are on the rise Monday and we’re diving into the latest news behind those gains.
The big news today comes from Li Auto (NASDAQ:LI). The company released its most recent earnings report and easily smashed Wall Street’s estimates. That includes revenue of $1.21 billion, which is a 209.7% increase year-over-year.
The positive earnings report from Li Auto appears to be behind some of the rise in other EV stocks today too. That’s likely a case of those shares moving in sympathy with LI stock. We’ve seen this happen before when Tesla (NASDAQ:TSLA) reports positive news.
Speaking of Tesla, it might have something to do with EV stocks heading higher today as well. The company is reportedly getting closer to starting production in Germany. That includes reports that Model Y production could start at its Berlin Gigafactory in December.
Let’s take a look at how EV stocks are reacting to today’s news below!
EV Stocks on the Rise
- Li Auto shares are rising more than 11% in early morning trading on Monday.
- Xpeng (NYSE:XPEV) stock is gaining over 3% this morning.
- Tesla shares are heading more than 3% higher as of this writing.
- Rivian Automotive (NASDAQ:RIVN) stock is starting off the day over 3% higher.
- Nio (NYSE:NIO) shares are up roughly 1% in early morning trading today.
There’s more than just EV stock news for traders to dive into today!
InvestorPlace has all the latest stock market happenings that you’ll want to know about for Monday. A few examples include what’s happening with Petros Pharmaceuticals (NASDAQ:PTPI) stock today, this morning’s biggest pre-market stock movers, as well as new coverage of Ethereum (CCC:ETH-USD). You can get all those details from the links below!
More Stock Market News for Monday
- PTPI Stock: The Short-Squeeze Buzz That Has Petros Pharmaceuticals Rocketing Today
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
- Ethereum Will Struggle to Overcome Its ‘Existential Crisis’
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.